DIY & Hardware Store - Austria

Austria

In Austria, the DIY & Hardware Store market is projected to generate a revenue of €7.15bn in 2024.
This market is expected to experience an annual growth rate of 2.55% (CAGR 2024-2029).
When compared globally, in China leads the market with a projected revenue of €720bn in 2024.
In terms of per capita revenue, each person in Austria is estimated to generate €796.70 in 2024.
Recent trends in the DIY & Hardware Store market in Austria show an increase in demand for eco-friendly and sustainable products.

Key regions: Worldwide, China, United States, India, Japan

Definition:

The DIY (Do-It-Yourself) market refers to the retail market for products used in home improvement and repair projects, such as tools, hardware, building materials, and lawn and garden products. These products are marketed to consumers who want to perform home improvement projects on their own rather than hire a professional. The DIY market provides consumers with the materials and tools they need to complete projects ranging from simple repairs to complete renovations, allowing them to save money and express their creativity in their living spaces.

Structure:

The market is divided into seven different segments:

The Paint, Wallpaper & Supplies segment includes products used for interior and exterior decoration, renovation, and protection of residential buildings.
The Tools & Machines segment consist of products used for construction, maintenance, and repair tasks.
The Hardware & Building Materials segment includes a diverse range of products that play an important role in the structure, safety, and functionality of a building.
The Lawn & Garden segment encompasses products that help homeowners and landscapers to create and maintain attractive and functional outdoor living spaces.
The Heating & Cooling segment focuses on produts that help regulate indoor temperatures, ensuring comfort, energy efficiency, and air quality in homes.
The Bathroom Hardware segment includes products designed to enhance the functionality and appearance of bathrooms.
The Floor Covering segment encompasses products that serve to protect the floor, enhance the appearance of the room, provide insulation and comfort, and can add value to a property.

Additional Information:

The market consists of revenue and average revenue per capita data. Per capita figures take into account the whole population. This market includes only B2C (business to consumer) sales. B2B (business to business) sales (e. g., hardware for coffee shops, offices, etc.) are excluded. For more information on the displayed data, click the info button on the right hand side of each box.

Mercado

Región

Comparación de regiones

Moneda

Analyst Opinion

The DIY & Hardware Store market in Austria has seen minimal growth, influenced by factors such as the sluggish economy, limited consumer spending, and competition from online retailers. However, the market is expected to experience slight growth in the coming years due to the rising demand for home improvement and renovation projects, along with the convenience of online purchasing.

Customer preferences: The DIY & Hardware Store Market in Austria has seen a rise in demand for eco-friendly and sustainable products, as consumers become more environmentally conscious. This trend is driven by a growing preference for eco-friendly and biodegradable materials, as well as a desire to reduce waste and carbon footprint. Additionally, the growing trend of DIY home improvement projects has led to an increased demand for high-quality and durable tools and products, as consumers seek to save money by doing the work themselves. This has also resulted in a shift towards more affordable and budget-friendly options, as consumers look for ways to cut costs while still maintaining quality.

Trends in the market: In Austria, the DIY & Hardware Store Market is experiencing a surge in online sales, as consumers increasingly turn to e-commerce for their home improvement needs. This trend is expected to continue and even accelerate in the coming years, driven by the convenience and wide product selection offered by online retailers. As a result, traditional brick-and-mortar stores are facing stiff competition and are having to adapt their strategies to remain relevant in the market. This trend also has implications for industry stakeholders, as it highlights the need to invest in robust and user-friendly online platforms and integrate digital solutions into their business models to stay competitive. Additionally, it presents opportunities for partnerships and collaborations between traditional stores and online retailers to provide a seamless omnichannel shopping experience for customers. Overall, the growth of online sales in the DIY & Hardware Store Market in Austria has far-reaching implications for the industry and is expected to shape its trajectory in the coming years.

Local special circumstances: In Austria, the DIY & Hardware Store Market is heavily influenced by the country's strong culture of handiwork and DIY projects. This has led to a demand for high-quality and durable tools and materials, driving growth in the market. Additionally, the country's mountainous terrain and harsh winters require specialized equipment and products, such as snow removal tools and durable outdoor furniture. With a growing focus on sustainability, Austrian consumers also appreciate locally-sourced and eco-friendly products, further shaping the market. Furthermore, the country's strict building codes and regulations create a demand for specialized tools and materials, making Austria a unique market within the DIY & Hardware Store industry.

Underlying macroeconomic factors: The DIY & Hardware Store Market in Austria is strongly influenced by macroeconomic factors such as consumer confidence, employment rates, and housing market trends. As the country experiences steady economic growth and a stable political climate, consumers are more willing to invest in home improvement projects, leading to increased demand for products sold in DIY and hardware stores. Furthermore, government policies aimed at promoting energy efficiency and sustainable housing are also driving the market forward. With the increasing popularity of DIY projects and the growing trend of homeownership in the country, the DIY & Hardware Store Market in Austria is expected to continue its upward trajectory in the coming years.

Methodology

Data coverage:

Data encompasses B2C enterprises. Figures are segmented by product type and consist of the following: Paint, Wallpaper & Supplies, Tools & Machines, Hardware and Building Materials, Lawn & Garden, Heating & Cooling, Bathroom Hardware, and Floor Covering.

Modeling approach / Market size:

Market sizes are determined by a top-down approach, based on a specific rationale for each market segment. As a basis for evaluating markets, we use national statistical offices, international institutions, in-house market research, and resources from the Statista platform. Next we use relevant key market indicators and data from country-specific associations such as product value, import value, and export value to determine domestic supply. This data helps us to estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, exponential trend smoothing. The main drivers are turnover indices, GDP per capita, and consumer spending per capita.

Additional Notes:

The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.